Odds of Hanging On

If you're already in the ranching business, then one thing you can do today to hold onto your ranch is to diversify your income stream. That means you don't just run animals anymore. You grow crops that can either feed your animals or be sold at market. You sign agreements with oil and gas companies interested in looking for black gold on your property. You develop niche products like organic, grass-fed beef and sell to local restaurants and specialty supermarkets.

Still, there's no guarantee you'll be ranching when you're older, or that you'll have a business to pass on to your kids. That's just how ranching is.